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spending cuts that would have hit the pentagon and other federal agencies this week. they did strike a deal on taxes. three hours before the midnight deadline, mitch mcconnell and vice president joe biden emerged with a compromise in taxes, agreeing to wait on flashing spending. >> this is a mini cliff. the big cliff still lies in front of us. the big cliff on all spending cuts. >> reporter: president obama had scolded congress for waiting so long. >> one thing we can count on with respect to this congress is that if there is even one second left before you have to do what you're suppose to do, they will use that last second. >> reporter: the bush era tax cuts remain in place for individuals earning as much as $400,000 a year and families $450,000 a year. for above the $250,000 level on which president obama campaigned on. but those making more will see higher income taxes, capitol gains, and dividend rates, plus a new health care reform surtax. san francisco tax attorney rob wood says you'll notice in your pay tax will be history. >> the average person earning $50,000 a year is going to pa
Search Results 0 to 0 of about 1